Coach has turned around years of declining sales by conforming to the new definition of luxury. According to the brand, young consumers aren’t “aspiring to stereotypical images of luxury,” which is how affordable luxury retailers like Michael Kors, Kate Spade, and Tory Burch have thrived in recent years. Now Coach understands the new world of fashion revolves around “inclusivity versus exclusivity,” and that a luxury item could be “a T-shirt or fun playful backpack.” (Glossy)
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